Macy’s Inc (M)
Quick ratio
| Feb 3, 2024 | Oct 28, 2023 | Jul 29, 2023 | Apr 29, 2023 | Jan 28, 2023 | Oct 29, 2022 | Jul 30, 2022 | Apr 30, 2022 | Jan 29, 2022 | Oct 30, 2021 | Jul 31, 2021 | May 1, 2021 | Jan 30, 2021 | Oct 31, 2020 | Aug 1, 2020 | May 2, 2020 | Feb 1, 2020 | Nov 2, 2019 | Aug 3, 2019 | May 4, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 1,034,000 | 364,000 | 438,000 | 603,000 | 862,000 | 326,000 | 300,000 | 672,000 | 1,712,000 | 316,000 | 2,137,000 | 1,798,000 | 1,679,000 | 1,551,000 | 1,395,000 | 1,523,000 | 685,000 | 301,000 | 674,000 | 737,000 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | 1,750,000 | 1,750,000 | — | — | — | — | — |
| Receivables | US$ in thousands | 293,000 | 291,000 | 293,000 | 255,000 | 300,000 | 204,000 | 219,000 | 233,000 | 297,000 | 212,000 | 221,000 | 205,000 | 276,000 | 185,000 | 184,000 | 170,000 | 409,000 | 175,000 | 240,000 | 237,000 |
| Total current liabilities | US$ in thousands | 4,430,000 | 6,014,000 | 4,184,000 | 4,782,000 | 4,861,000 | 6,743,000 | 4,708,000 | 5,543,000 | 5,416,000 | 6,671,000 | 6,700,000 | 5,518,000 | 5,357,000 | 6,651,000 | 4,854,000 | 5,772,000 | 5,750,000 | 6,479,000 | 4,439,000 | 5,019,000 |
| Quick ratio | 0.30 | 0.11 | 0.17 | 0.18 | 0.24 | 0.08 | 0.11 | 0.16 | 0.37 | 0.08 | 0.35 | 0.36 | 0.36 | 0.52 | 0.69 | 0.29 | 0.19 | 0.07 | 0.21 | 0.19 |
February 3, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($1,034,000K
+ $—K
+ $293,000K)
÷ $4,430,000K
= 0.30
The quick ratio provides insight into Macy's Inc's ability to cover its short-term obligations with its most liquid assets excluding inventory. A quick ratio below 1 suggests the company may have difficulty meeting its short-term liabilities.
Looking at the data over the past few quarters, Macy's quick ratio has been fluctuating significantly. The ratio has ranged from a low of 0.08 to a high of 0.69, indicating fluctuations in the company's liquidity position.
In the most recent quarter, as of Feb 3, 2024, Macy's quick ratio stands at 0.30. This implies that for every $1 of current liabilities, Macy's has $0.30 of highly liquid assets available to cover those obligations. Although the current quick ratio is still below 1, it has improved compared to the previous quarter (0.11).
It's important to note that a quick ratio of less than 1 may raise concerns about Macy's ability to meet its short-term obligations without relying on the sale of inventory. The increasing trend in the quick ratio from the previous quarter indicates a positive direction in liquidity management.
Further analysis and monitoring of Macy's quick ratio in upcoming quarters will be crucial to assess the company's progress in improving its liquidity position and meeting short-term financial commitments efficiently.
Peer comparison
Feb 3, 2024